In the past week, there has been a certain degree of focus on the Elemental Nutritional Resources Inc (OTCMKTS:ELNSF) stock and during the period the stock has managed to clock gains of 4%. This past Friday, the stock was in the news as well after it announced that it was going to begin the best efforts marketed offering of its common shares.
Trading Data
On Friday, ELNSF stock ended flat at $0.2582 with more than 122K shares traded, compared to its average volume of 87K shares. The stock moved within a range of $0.2582 – 0.2582 after opening trading at $0.2190.
Element Nutritional Sciences Announces Up to $5 Million Best Efforts Public Offering
The company set the price of each share at $0.25 for the offering. It was a major new announcement and one that could result in more attention from investors. At the same time, Elemental Nutritional also announced that it had also submitted the filing of a preliminary short form prospectus.
The filings have actually been filed with the securities regulatory agencies which are in charge of the different provinces and territories in Canada.
The filing has not been done for the province of Quebec. In addition to that, the agent and sole book runner for the offering is going to be CanaccordGenuity Corp. The agent has also been awarded with an option by Elemental Nutritional, which can be exercised at any point 30 days from the day on which the offering is closed.
